The Long Hau JSC, the developer of a number of industrial parks in southern Viet Nam, on Thursday, started work on the first hi-tech factory cluster for lease in the Da Nang Hi-tech Park.

A view of the groundbreaking ceremony for the hi-tech factory cluster

Covering a total of over 29.6 ha of land, the 1.050 billion VND cluster project, once completed, will provide ready-built factories, with an area of 500 - 3,300 m² each, for investors, alongside 170 m² offices.

The factories are expected to attract firms operating in technology and supporting industries such as precision engineering and electronic parts and sensor manufacturers.

In addition to its factories for lease, the projects will offer construction consultancy, job introduction, environmental sanitation and support services for businesses, especial small and medium-sized ones.

In particular, investors will receive some preferential policies, such as tax exemptions for imported goods to create fixed properties for the project and to serve research and development activities.

They will also be exempted from taxes for a 5-year period for materials and accessories that are not manufactured in the country, starting from the manufacturing dates.

According to Long Hau JSC Director Bui Le Anh Hieu, the company has also signed an agreement with Japan’s Hatsuta Seisakusho Co., Ltd, to lease a 6,000m² factory to the Japanese company.

Speaking at the groundbreaking ceremony, municipal People’s Committee Vice Chairman Ho Ky Minh said that the construction of the factory cluster helps to accelerate the city’s investment attraction process.

He also affirmed that the most favourable possible conditions would be created for the Long Hau JSC to effectively implement its production and business activities.